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The Crypto Basic
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Bitcoin and Ethereum options worth a staggering $5.82 billion will expire tomorrow, according to Deribit data.
#BitcoinEndurance
#EthereumAnalysis
#Crypto
#CryptonewswithJack
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Influential crypto investors are betting big on #Cardano , with their activities positively reflecting on the price of the crypto asset. In a tweet today, market watcher Ali Martinez informed the crypto community that crypto whales added 100 million ADA tokens to their portfolios over the past two days. Notably, these investors typically hold between 100 million and 1 billion ADA tokens. With the latest investment, this tier of Cardano whales now controls a portfolio of over 3.44 billion ADA tokens. As of January 13, these whales had a collective holding of around 3.35 billion ADA. Cardano Price Reacts At that time, Cardano was trading at around $0.998, suggesting they deployed around $100 million in the Cardano market. However, as of today, the effects of the two-day accumulation have been felt, with the price of ADA rising to $1.06. At the time of reporting, Cardano continues to defend the $1 mark. Historically, Cardano’s price has reacted to whale accumulation, and this latest observation is no different. In a tweet on January 12, Martinez revealed that Cardano whales added 90 million ADA tokens to their portfolios over a 96-hour window. The buying spree began when ADA dipped to $0.8838 last Thursday. However, by the third day, Cardano’s price had improved to $1.03. The subsequent dip back to $0.8893 presented another opportunity for Cardano whales to further consolidate their holdings with an additional 100 million tokens. It is worth mentioning that there have been instances where the ADA holdings of whales dropped slightly. A notable example was when they liquidated 70 million tokens between January 6 and 8. Nonetheless, despite this, the general trajectory of their holdings has been upward over the past eight weeks. #CryptoNewss Chart showing Cardano whale accumulation with ADA price
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#Ethereum ’s price is steadily gaining traction as Bitcoin (BTC) crosses $97k. After dipping below the $3,000 mark to a temporary low of $2,913, Ethereum has since regained ground above the $3,200 level. Ethereum Price Analysis In the 4-hour price chart, the Ethereum price trend reveals a V-shaped reversal, accounting for a price surge of 11% from the recent low of $2,913. Currently, Ethereum is trading at $3,235 and has risen above the 20 EMA line, suggesting an early bullish signal. Meanwhile, Ethereum’s recovery is testing the resistance level at $3,244. The alignment of the 20, 50, 100, and 200 EMA lines on the 4-hour chart is bearish, indicating potential resistance ahead. Thus, Ethereum’s recovery could face multiple dynamic resistance levels. However, the bullish divergence in the 4-hour RSI line suggests strong underlying support, leading to a swift turnaround. This divergence underscores growing buyer interest, and as buying pressure increases, a breakout is more likely, especially with the broader market’s recovery. #cryptonewstoday Ethereum Price Chart
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